Verizon Comms Stock Price, News & Analysis

Verizon's C-Band Spectrum Acquisition Boosts 5G Expansion

Verizon's newly acquired C-Band spectrum will significantly enhance its 5G mobility and home services. By the end of 2021, the company plans to increase broadband services to nearly 15 million homes and expand its Ultra Wideband mobility coverage to 100 million customers. Ten new cities, including Cleveland and San Diego, will receive 5G Home Internet. Customers can enjoy speeds up to 1 Gbps at competitive prices, with no data limits and additional perk of a free discovery+ streaming service for a year.

Verizon has partnered with Hoy Health to provide exclusive discounts on telehealth services for its customers. This alliance allows Verizon Wireless postpaid customers to access a 35% discount on virtual consultations with bilingual doctors and one month of select medications. Additional savings include 10% off medications for family members in select Latin American countries and discounts on chronic management kits. Customers can easily sign up through the Verizon website, enhancing their access to healthcare during a time of increased health priorities.

Verizon launched the Women’s CoLab initiative to support women amid high workforce attrition due to pandemic-related burnout. A survey revealed that 68% of women who left voluntarily cited burnout as a key factor. The program aims to provide mentorship, training, and resources for women entrepreneurs. Verizon will kick off the #WomenOwnWednesday social campaign on March 10, encouraging support for women-owned businesses. The initiative builds upon existing efforts to help women in the workplace, addressing gaps in training and mentorship opportunities.

Verizon has launched Mobile + Home Rewards, a new program offering additional savings for customers who subscribe to both its wireless and Fios Home Internet services. New customers can access both Verizon Unlimited and Fios Internet for just $79.99/month with Auto Pay. Through the program, customers can save up to $40/month when they enroll in Mobile + Home Rewards. Existing customers can also receive combined discounts of $30/month or $40/month, depending on their service plans. This initiative aims to enhance customer satisfaction and service bundling benefits.

Verizon Frontline will be introduced during pro basketball's big game, showcasing its advanced network for first responders. The initiative includes partnerships with professional basketball teams to deliver free meals to frontline workers and an online gaming experience featuring Donovan Mitchell and other players. Verizon Frontline has already provided over 150,000 meals through its Food for Frontline Workers program, supporting local restaurants impacted by the pandemic. The company is also collaborating with The Leary Firefighters Foundation to enhance support for firefighters nationwide.

Verizon Communications has declared a quarterly dividend of 62.75 cents per share, consistent with previous payouts. This dividend will be payable on May 3, 2021, to shareholders recorded by April 9, 2021. The company has approximately 4.1 billion shares outstanding, with $10.23 billion paid in dividends in 2020. Verizon generated $128.3 billion in revenues last year, establishing its status as a leading provider of communication services globally.

Verizon, in collaboration with AWS and the NFL, launched the first 5G and MEC-enabled mobile game called NFL Ultra Toss for fans at Super Bowl LV. Utilizing Verizon's 5G Edge and AWS Wavelength, the game offered a low-latency, high-bandwidth multiplayer experience. Fans could toss a virtual football using augmented reality, competing in real-time with others in-stadium. Nicki Palmer, Chief Product Officer at Verizon, highlighted the potential of 5G in transforming gaming experiences. Verizon reported revenues of $128.3 billion in 2020, showcasing its strong market position.